Latest Realty News

Major Indian property markets of Mumbai and Bangalore slip in 2014 ranking: Report
Dec 11, 2013
MUMBAI: Major Indian property markets of Mumbai and Bangalore have slipped further as real estate investment destinations in the Asia-Pacific region, according to a PricewaterhouseCoopers (PwC) report. Mumbai and Bangalore have slipped to the 23rd and 20th positions in the 2014 rankings from 20th and 19th positions, respectively in 2013 survey.
Flat buyers spared service tax on maintenance fee
Dec 10, 2013
MUMBAI: Home buyers have something to look forward to in an otherwise dull property market. The customs, excise and service tax appellate tribunal recently held that they will no longer have to pay service tax on the one-time maintenance charge (deposit) paid to builders at the time of booking a flat.
With slowing economy & inflation, house prices to rise at slower pace in 2014
Dec 10, 2013
BANGALORE: After years of double-digit growth, house price rises in major Indian cities are expected to slow to just under 8 per cent next year as a cooling economy and rising interest rates deter new buyers, a Reuters poll showed.
What slowdown, ask new realty developers
Dec 09, 2013
DELHI: Unfazed by the slowdown in the property market, companies from assorted sectors are rushing into it. As many as 20 small companies have entered the segment in the past two-three years and many are firming up plans to make an entry soon.
Delhi’s commercial real estate set to bounce back
Dec 06, 2013
DELHI: Delhi NCR’s property market is all set to regain its lost momentum with the revival in the economy. Private and public sectors are leaving no stone unturned to capitalise on the inherent capabilities of the real estate and infrastructure sector to drive growth and to deliver. Recently, three new cities were included in the NCR: Bhiwani and Mahendragarh of Haryana district and Bharatpur from Rajasthan.
Lodha group buys Canadian high commission’s building in London for over Rs 3,120 crore
Nov 29, 2013
MUMBAI: Mumbai-based realty major Lodha Group has bought the Canadian high commission's building in central London for over Rs 3,120 crore (£306 million) signalling the group's ambitious overseas plans.
Prices of residential property in Mumbai drop nearly 10% over the past three quarters
Nov 27, 2013
MUMBAI: The residential property market in Mumbai is turning in favour of buyers with inventory levels rising and prices weakening. Residential property prices in some south and central Mumbai locations such as Parel, Lower Parel and Mahalaxmi have declined nearly 10% over the previous three quarters with the increase in the number of unsold homes and prospective buyers reluctant to exceed budgets amid a slump, said property consultancy Knight Frank India.
Despite slowdown, listed developers see signs of relief
Nov 19, 2013
DELHI: Despite a weak property market, most listed developers reported better cash collections and lower interest expenses in the September quarter, as they handed over several projects to customers and reduced or refinanced debt.
New home launches up by 5% in January-September: Cushman & Wakefield
Nov 01, 2013
DELHI: India's eight major cities saw launch of 1.32 lakh homes during January-September 2013, up by five per cent from the year-ago period, according to global real estate consultant Cushman & Wakefield.
Housing demand picks up in NCR; sales up 18% in January- June
Oct 25, 2013
DELHI: Housing sales have risen by 18 per cent in the Delhi-NCR region during the first half of this year at 35,000 units, showing signs of improvement in the property market that has been facing slowdown in demand.
Realty bites: Despite weak rupee, NRIs not keen to buy property in India
Oct 24, 2013
BANGALORE/MUMBAI: The weakness in the rupee hasn’t led to the usual surge of non-resident Indians buying property in the country, with many of them drawn to real estate markets in the US, UK, Singapore and Dubai where prices and borrowing costs are relatively subdued and returns are seen as being higher.
Mira-Bhayander stretch on a high, appreciation expected
Oct 23, 2013
MUMBAI: Prices of residential properties on the Mira-Bhayander stretch – the suburban location in Thane district, have doubled in the past three years on the back of growing connectivity and infrastructure and there is scope for further appreciation in the near future. The locality is administered by the Mira-Bhayander Municipal Corporation (MBMC). A 1,000-sq ft apartment in a multi-storeyed building is available in the range of Rs 75-80 lakhs at present.
Illegal to move into property without occupation certificate
Oct 21, 2013
MUMBAI: It is against the law to move into flats in buildings without the mandatory municipal occupation certificate (OC), the Bombay high court has ruled. A division bench of Justice S C Dharmadhikari and Justice Gautam Patel sought action against 49 flat owners as well as a nursing home in two wings of a building with six wings in Sion East.
1.9 lakh owners in Hyderabad never paid property tax in 5 years
Oct 11, 2013
HYDERABAD: Nearly 1.90 lakh owners have not been paying property tax for over five years. These property owners together owe over Rs 461 crore, including arrears and interest on it, to the Greater Hyderabad Municipal Corporation (GHMC). Similarly, over three lakh owners of 13.5 lakh properties assessed have not been remitting taxes for over three years.
Buying your first house? Here's a checklist of 9 sales pitches that you should be wary of
Oct 07, 2013
DELHI: Newly-weds Dipankar and Ashima Gupta have made up their minds to buy their own house. The first trigger came last year, when two of their close friends bought property. Then their landlord sounded the warning that he would raise the rent again. What sealed the decision was the salary hike that Dipankar got this year. "We might as well pay an EMI instead of giving rent to the landlord every month," says Ashima.
Gera Developments launches Gera’s Isle Royale
Oct 05, 2013
PUNE: Like luxury cars, high-end housing with a flat costing more than a crore has seen great demand in the city. People are ready to pay for amenities and elegance said Gera Developments MD Rohit Gera during announcement of the developer's launch of a super premium lifestyle residential project "Gera's Isle Royale" located at Bavdhan.
Developers will have to pay 5% VAT, rules Supreme Court
Sep 27, 2013
MUMBAI: In a major setback to realty developers , the Supreme Court has upheld the earlier Bombay High Court verdict that asked builders to pay 5% value-added tax for sale of underconstruction houses between 2006 and 2010 in Maharashtra.
Realty developers unhappy over rate hike by RBI
Sep 21, 2013
NEW DELHI: Expressing disappointment over RBI's decision to hike the key policy rate, real estate developers said this would lead to increase in finance cost and also affect housing demand during the festive season.
Developers selling non-core biz to improve balance sheet: Study
Sep 21, 2013
BANGALORE: Developers are now focusing more in their own regions and are selling their non-core businesses to improve their balance sheet. Further, interest in tier II city investment has also reduced as investors are unable to make the desired returns in their earlier portfolios.
The property market is witnessing some structural changes with developers gradually coming out of th...
Sep 20, 2013
BANGALORE: Developers are now focusing more in their own regions and are selling their non-core businesses to improve their balance sheet. Further, interest in tier II city investment has also reduced as investors are unable to make the desired returns in their earlier portfolios.
Strong fundamentals behind more launches in Mumbai
Sep 20, 2013
MUMBAI: At a time when the economic slowdown has severely affected new launches in many property markets across India, Mumbai has seen the maximum launches in the first half of 2013. This shows without a doubt that the fundamentals of the city are still strong, making it a very resiliant property market. Even the NRIs prefer to bet on a matured market like Mumbai, compared to any other emerging market, due to the fact that the island city is the financial capital of the country. The overall real
Mumbai sees 18,000 residential units launched in first half 2013, up 30%
Sep 11, 2013
MUMBAI: Weak residential property market scenario in Mumbai has not deterred real estate developers from launching new projects in the financial capital of the country. The city has witnessed launches of around 18,000 units in the first half of the year until June, representing an increase of 30% over last year, said a quarterly report by Cushman and Wakefield.
SoBo’s high-end luxury homes find few takers
Sep 09, 2013
MUMBAI: High-end properties in South Mumbai have fewer takers in a gloomy economy. While property appreciation in Sobo, as the area is fondly called, has dropped to 10% from 30% two years ago, rental yields have fallen by more than half.
Kolte-Patil Developers forays into Mumbai, gets redevelopment project in Khar
Aug 02, 2013
MUMBAI: Pune-based realty developer Kolte-Patil Developers has forayed into Mumbai property market with a redevelopment project in western suburb of Khar. The company will be redeveloping a housing society spread over 1,594 sq meter in Khar (west), a release said.
Adding more districts in NCR to increase land supply: CREDAI
Jul 03, 2013
DELHI: Hailing the inclusion of three more districts in the National Capital Region, realtors' apex body CREDAI today said the move will lead to additional supply of land for development

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